Orchid Chemicals & Pharmaceuticals has entered into an agreement to acquire US-based generic marketing and sales services company Karalex Pharma through an all-cash deal for an undisclosed amount.
Orchid is an India-based pharmaceutical company involved in manufacturing, development and marketing of diverse bulk actives, formulation and nutraceuticals.
Through this acquisition, Orchid has created its presence in the front-end US market and will be able to reach its generic products to the US customers directly.
Raghavendra Rao, managing director of Orchid, said: "This will provide a strong commercial US-based sales capability to Orchid, paving the way for synergistic returns from our upcoming and long term strategic generic pharmaceutics pipeline comprising key first-to-file and paragraph-IV products.
"This move also endows Orchid, for the first time end-to-end coverage capability of the entire generic pharmaceutical business cycle from the product development to product sales and would enable Orchid to internalise value."
The transaction is expected to close by this month to customary closing conditions.